NZ Property Investor November 2020

It was all over quickly in the end. After what had started to feel like an interminable election campaign, one where even political enthusiasts were experiencing fatigue, on election night the result became obvious, fast. The polls had consistently shown that Labour was likely to win – and win the party did. But decisively, in a landslide of red, which handed Labour the first ever outright majority under MMP. Unlike in the past, there will be no long, drawn-out negotiations to establish who can form the next government. For the next three years, Labour will be firmly in the driving seat. Financial markets took the win in their stride: it was anticipated and no major economic policy changes are expected. So it’s business as usual in that sense. But what…

Labour’s new housing policy focuses on increasing housing supply while stimulating the economy and creating jobs in the wake of Covid-19. But it also builds on policies the Labour-led government implemented in its first term – which included a raft of new standards for rental properties. Prime Minister Jacinda Ardern says Labour believes that all New Zealanders have the right to live in warm, dry, healthy homes, whether they rent or own their homes. “We will continue to ensure tenants and landlords have a fair deal by regulating property managers, following our work setting basic health standards for rental properties.” That’s why Labour will introduce the regulation of property management services to ensure they meet professional standards and a Code of Conduct. Multiple groups from Consumer NZ to the Property…

The P Alert Meth Alarm, which has been assessed by ESR and Telarc, is the world’s first patented meth alarm. It’s an electronic device, about the size of a TV remote, which can be placed anywhere inside a house. It can detect all levels of meth chemicals in an enclosed area. This allows it to detect the smoking and manufacture of meth in real time, as well as prior smoking or manufacture of meth. Developed and patented by Jamie Hansen, and his business partner Alan Spies, the alarm is a useful tool for landlords, property managers, and anyone letting out properties for accommodation. That’s because it is continually monitoring the air in a property. If chemicals are detected, it activates a silent alarm and sends information about the location and…

At the end of April, the Reserve Bank scrapped loan-to-value ratio restrictions for owner-occupiers and investors for one year, removing previous LVR “speed limits” on what the banks could lend. The decision, along with the OCR cut in March and vast quantitative easing programme, have boosted the housing market through 2020 in spite of the global pandemic. Now the latest REINZ data reveals that 8,377 properties sold nationwide in September – which was a 37.1% year-on-year increase. Investors have dived back into the market in recent months, borrowing more at high LVRs. Alexander says that as the housing market continues to heat up, the central bank will reintroduce LVRs for investors come May next year. “I think that the chances of the 30% deposit requirement coming back for investors are…

PROPERTY INVESTOR WEBINAR (ONLINE EVENTS ONLY) South Island, November 4, Waikato/Bay of Plenty, November 11, Wellington, November 18, Auckland/ Northland, November 25. Bookings via https://positiverealestate.co.nz/property-investment-seminar/ COMPLIMENTARY BREAKFAST WITH RON AND THE TEAM November 14 and 15, 8am to 11am. Find out where and when the best time is to buy your first home or an investment. Reserve your spot here: www.ronovationz.cominfo@ronovationz.com 0226 888 888. Spaces are limited. RONOVATIONZ ‘ON THE ROAD’ OTR November 7, 21 and 28, 9:30am-3:30pm. Join Ron and the team behind the scenes as they spend the day looking at properties, learn hands-on where the best suburbs are, how to add value and much, much more. Spaces are limited and by invitation only–interested? Email your details to info@ronovationz.com or call 0226 888 888. PROPERTY INVESTMENT & EDUCATION…

1 New renters’ guide for tenants Far too many tenants are not aware of their obligations around their rental property so a new guide aims to spell out what they need to know and do. 2 Labour plans to regulate property managers Property managers will be regulated and subject to a Code of Conduct to ensure they meet professional standards if the Labour Party returns to power after the election. 3 Tenancy reforms, tax changes would go under National Getting rid of the Government’s tenancy law reforms and tax changes that impact on rental property owners are a key feature of the National Party’s new housing policy. 4 Call for rent caps after freeze ends Rents are set to go up for many as the Covid-19 prompted freeze on rent…